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DevelopmentGrocery-anchoredMixed-useNew JerseyNews

SJC Ventures Breaks Ground on 54-Acre Mixed-Use Development in New Jersey 

by Hayden Spiess

Montgomery Township, N.J. — SJC Ventures, a privately held commercial real estate and retail development firm based out of Atlanta, has broken ground on Montgomery Promenade in the New York City suburb of Montgomery Township. Situated on a 54-acre site on Route 206, Montgomery Promenade will comprise 292,700 square feet and feature palisades for walking, green spaces, outdoor dining and restaurants. According to the Montgomery Township website, the project also includes 34 single-family detached homes that buffer the existing homes on Route 518 and the new shopping center. A Whole Foods …

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LeasingNew JerseyNews

Azarian Achieves Full Occupancy at 90,000-Square-Foot Shopping Center in New Jersey

by Hayden Spiess

Allendale, N.J. — Azarian Realty Co. has fully leased Allendale Town Center, a 90,000-square-foot shopping center located in Allendale. Philly Pretzel Factory recently signed a 1,254-square-foot lease at the property, bringing the center to full occupancy. Kevin Pelio of Azarian represented both the tenant and landlord in the leasing negotiations. Other tenants include AM/PM Urgent Care, Bergen County Pediatric Dentistry and Primo Hoagies. Azarian is the exclusive leasing agent for the center.  

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LeasingNew JerseyNews

Pure Hockey Signs 11,340-Square-Foot Lease in Kenilworth, New Jersey 

by Hayden Spiess

Kenilworth, N.J. — Pure Hockey has signed an 11,340-square-foot lease in Kenilworth. Dean Tselepis of Newmark represented Pure Hockey in the lease negotiations. The hockey equipment retailer will open a store in a space formerly occupied by Clean Land Laundromat. Chuck Lanyard of The Goldstein Group represented the landlord, an entity doing business as Kenilworth 2480 Route 22 LLC. 

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Company newsLeasingNew JerseyNews

Spirit Halloween to Open 1,500 Stores in 2023

by Hayden Spiess

Egg Harbor Township, N.J. — New Jersey-based Spirit Halloween has announced that it will open more than 1,500 seasonal stores throughout the U.S. this year. Stores typically occupy between 5,000 and 50,000 square feet and remain open eight to ten weeks. The company plans to hire 40,000 associates to staff the locations. 

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DevelopmentNew JerseyNews

Accurate, DeVimy Open 140,000-Square-Foot Retail Center in New Jersey

by Hayden Spiess

Morris Township, N.J. — A joint venture between Accurate and DeVimy Equities has opened Morris Marketplace, a 140,000-square-foot retail center located in Morris Township. Of the 24 tenants that have signed leases at the property, 17 are currently open. Tenants at the center include Burlington, European Wax, Tropical Smoothie, Wells Fargo, Jersey Mike’s and Orangetheory Fitness. 

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FinanceGrocery-anchoredInvestment salesNew JerseyNews

Cronheim Mortgage Arranges $13.1 Million Acquisition Financing for Two Retail Centers in New Jersey

by Hayden Spiess

Elizabeth and Roselle, N.J. — Cronheim Mortgage has arranged a $13.1 million loan for the acquisition of two retail centers located in New Jersey. The first property, Color Plaza, comprises 49,309 square feet in Elizabeth. Tenants at the center, which was fully leased at the time of the transaction, include Seabras and CVS/pharmacy.  Developed in 2004, the second property is Roselle Commons in Roselle. The center was fully leased at the time of the transaction to tenants including Pep Boys, Green Grocer, Quest Diagnostics, GNC and T-Mobile.  Andrew Stewart, Dev Moris …

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Company newsLeasingNew JerseyNews

Babies”R”Us Opens Flagship Store at American Dream Development in Metro New York City

by Hayden Spiess

East Rutherford, N.J. — Babies”R”Us has opened flagship store at American Dream, a 3 million-square-foot retail development located in East Rutherford, roughly 13 miles outside New York City. In addition to a baby registry lounge, nursery design center, learning center and comfort zone, the store features interactive experiences. This marks the return of the chain to the U.S. following WHP Global’s acquisition of both the Babies”R”Us and Toys”R”Us brands in 2021 and the opening of a Toys”R”Us flagship store last year. 

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LeasingNew JerseyNewsRestaurants

First Watch to Open 3,846-Square-Foot Restaurant in Brick Township, New Jersey

by Hayden Spiess

Brick Township, N.J. — First Watch will open a 3,846-square-foot restaurant in Brick Township. Scheduled to open in 2024, the property will be situated on a pad site within Brick Commons, a 278,145-square-foot retail center. Amy Staats and Hugh Scullin of Katz & Associates represented the tenant in the leasing negotiations. 

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Company newsFinanceNew JerseyNews

All 120 Buy Buy Baby Stores to Close

by Hayden Spiess

Union, N.J. — All 120 Buy Buy Baby stores will close following the bankruptcy of its parent company, Bed Bath & Beyond, reports CNBC. Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in April, previously planned to sell the chain, with brand management firm Go Global Retail interested in acquiring Buy Buy Baby and continuing to run its stores. Instead, Dream on Me Industries has purchased the brand’s trademark and digital assets for $15.5 million. Buy Buy Baby’s website reports that though stores currently remain open, they have “made the difficult …

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